Terms of proposed dividend in specie (3548E)
30 Mayo 2012 - 1:00AM
UK Regulatory
TIDMBBE
RNS Number : 3548E
Bluebird Energy PLC
30 May 2012
BLUEBIRD ENERGY PLC
(AIM: BBE)
Terms of interim dividend in specie of part of Bluebird's
holding
in Wessex Exploration PLC
Bluebird Energy plc ("Bluebird" or "the Company") announces
that, following the announcement made on 14 May 2012 in relation to
the proposed interim dividend in specie of part of Bluebird's
holding in Wessex Exploration PLC ("Wessex"), the Independent
Directors of Bluebird have determined that the terms of the interim
dividend in specie are:
1 Wessex Share for every 18 Bluebird Ordinary Shares
The above is equivalent to an interim dividend in specie of
27,688,689 Wessex Shares, representing approximately 42.8 per cent.
of Bluebird's holding as at the date of this announcement.
In determining the terms of the dividend, the Committee has
considered the Company's ongoing working capital requirements and
the effect on those requirements of any tax liability (with
reference to the market value of the Wessex Shares at the date of
Distribution) that the Company may incur in making the
Distribution.
The Distribution is conditional upon shareholder approval.
Accordingly, a general meeting to approve the Distribution is being
held this morning at 11 a.m. at the offices of Osborne Clarke at 2
Temple Back East, Temple Quay, Bristol BS1 6EG. A further
announcement will be made following the General Meeting.
Expected timetable of principal events
General Meeting 11 a.m. 30 May 2012
Ex-dividend date for entitlement to the 31 May 2012
Distribution
Record Date for entitlement to the Distribution 6 June 2012
All capitalised terms in this announcement are as defined in the
Circular which is available from the Company's website,
www.bluebirdenergy.net.
Contacts
Bluebird Energy plc www.bluebirdenergy.net
Andrew Yeo - Chief Executive +44 (0) 1225 428139
WH Ireland Limited www.wh-ireland.co.uk
John Wakefield / Marc Davies +44 (0) 117 945 3470
This information is provided by RNS
The company news service from the London Stock Exchange
END
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